First Trust Advisors LP Has $9.92 Million Stock Position in SiriusPoint Ltd. $SPNT

Key Points

• First Trust Advisors increased its SiriusPoint position by 35.3% in the first quarter, owning 460,590 shares worth approximately $9.92 million. Institutional investors and hedge funds collectively hold 52.79% of SPNT’s stock.
• Analyst sentiment is mixed, with two Buy ratings and three Hold ratings; the consensus rating is Hold with a $31.00 price target.
• SiriusPoint reported quarterly earnings of $0.67 per share, beating estimates of $0.65, while revenue of $744.1 million fell short of the $798.95 million consensus forecast. SPNT recently traded at $23.66, within a 12-month range of $17.17 to $26.48.

First Trust Advisors LP grew its holdings in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 35.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 460,590 shares of the company's stock after acquiring an additional 120,189 shares during the period. First Trust Advisors LP owned about 0.39% of SiriusPoint worth $9,921,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. ProShare Advisors LLC increased its holdings in SiriusPoint by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 19,954 shares of the company's stock valued at $437,000 after purchasing an additional 612 shares during the period. State of Alaska Department of Revenue raised its position in SiriusPoint by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 58,362 shares of the company's stock worth $1,276,000 after purchasing an additional 649 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in SiriusPoint by 50.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,448 shares of the company's stock worth $54,000 after buying an additional 823 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in SiriusPoint by 5.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,994 shares of the company's stock worth $372,000 after buying an additional 873 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of SiriusPoint by 7.2% in the 4th quarter. Natixis Advisors LLC now owns 13,592 shares of the company's stock valued at $298,000 after buying an additional 916 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SPNT. Wall Street Zen cut SiriusPoint from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research lowered SiriusPoint from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 11th. B. Riley Financial assumed coverage on SiriusPoint in a report on Friday, April 17th. They issued a "buy" rating and a $31.00 target price on the stock. Finally, Weiss Ratings downgraded shares of SiriusPoint from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $31.00.

SiriusPoint Price Performance

SPNT stock opened at $23.66 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.58 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 5.77 and a beta of 0.60. The company's fifty day simple moving average is $23.60 and its 200 day simple moving average is $22.27. SiriusPoint Ltd. has a 12-month low of $17.17 and a 12-month high of $26.48.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. SiriusPoint had a return on equity of 16.28% and a net margin of 15.56%.The firm had revenue of $744.10 million during the quarter, compared to the consensus estimate of $798.95 million. On average, analysts expect that SiriusPoint Ltd. will post 2.57 earnings per share for the current year.

About SiriusPoint

SiriusPoint Ltd. is a global insurance and reinsurance company headquartered in Bermuda, offering a broad range of property and casualty solutions to clients around the world. The company operates through two core segments: reinsurance, which provides treaty and facultative coverage across property, casualty and specialty lines; and insurance, which underwrites specialty programs, fronting arrangements and other tailored products for commercial and niche markets. This integrated model allows SiriusPoint to leverage shared underwriting expertise and capital efficiency across its product suite.

On the reinsurance side, SiriusPoint’s offerings include coverage for natural catastrophes, casualty losses, political risk and other complex exposures, with both proportional and non-proportional treaty structures.

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